Ten years is an eternity on Wall Street. Consider that the S&P 500 was about 1,800 back in 2013, right after a little company named Facebook held a high-priced IPO to achieve a $100 billion valuation. Right now, the S&P 500 is about 140% higher, at roughly 4,300, and Facebook parent Meta Platforms Inc. (ticker: META) is valued at nearly $800 billion.
There's no such thing as a sure thing on Wall Street, but it's undeniable that if you are patient you can really supercharge your portfolio – presuming you're invested in stocks that grow faster than their peers, of course.
The following growth stocks all have tremendous track records as well as strong outlooks for the foreseeable future. There may be short-term volatility to weather, but if the current course and speed hold for these stocks, your portfolio could be significantly ahead in a decade's time:
DexCom Inc. (DXCM). Medical device company DexCom is one of the smaller stocks on this list, with a market value of about $35 billion at present. It's not as well known or as entrenched as some of the more familiar Big Pharma names, but its special focus on glucose monitoring systems and solutions for diabetics is a tremendous corner of the marketplace to be in right now. After all, more than 11% of the U.S. has diabetes – and the International Diabetes Federation has projected that by 2045, roughly 1 in 8 adults around the globe will suffer from the disease. With a 20% growth rate for sales both in fiscal years 2023 and 2024, this is clearly a stock with a tailwind at its back and the potential for sustained upside.
DraftKings Inc. (DKNG). As you probably know from the copious ads that have been distributed on the internet and TV over the last year or so, DraftKings is one of the preeminent sports betting portals out there. Believe it or not, it has only been about five years since a landmark Supreme Court ruling opened the door for this kind of gambling activity, and now some 30 states and Washington, D.C., have legalized sports betting. That's a long way of saying there's a megatrend lifting DKNG stock as more Americans get access to its platform. Pent-up demand is high, and we're only in the beginning stages of growth for this industry – and based on projections of more than 50% growth this year and 20% growth in fiscal year 2024, DKNG has a lot of runway left when it comes to capitalizing on this megatrend.
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GROWTH STOCKYTD PERFORMANCE AS OF SEPT. 22 CLOSE
DexCom Inc. (DXCM) -22.7%
DraftKings Inc. (DKNG) 143.7%
Enphase Energy Inc. (ENPH) -54.7%
Fortinet Inc. (FTNT) 19.1%
Intuitive Surgical Inc. (ISRG) 8.6%
Lululemon Athletica Inc. (LULU) 21.1%
MercadoLibre Inc. (MELI) 50.9%
Nvidia Corp. (NVDA) 184.8%
Salesforce Inc. (CRM) 55.7%
Tesla Inc. (TSLA) 98.8%
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